Market Insights Snapshot
In the Concentrates category, Missouri, Origin Extracts has shown positive momentum by consistently improving their ranking over the span of August to November 2023. They began in August at rank 17, maintaining this position through September, and then improved to 14th place in October and 13th in November. This upward trend indicates a growing preference for Origin Extracts among consumers in this category. However, it's worth noting that while their ranking improved, there was a slight dip in sales from September to October 2023, before bouncing back in November.
On the other hand, in the Vapor Pens category, also in Missouri, Origin Extracts faced a more challenging market environment. They began in August 2023 outside the top 20, at rank 43, which indicates a lower market penetration in this category. However, they managed to climb up the rankings to 34th place by October, showing signs of improvement. Despite a slight drop to 35th place in November, sales figures for the period showed a consistent increase, suggesting a growing consumer base and acceptance of the brand in this category.
In the Missouri Vapor Pens category, Origin Extracts has shown a steady improvement in rank over the period from August to November 2023, moving from 43rd to 35th place. This progress is indicative of a positive growth trend, despite the brand not making it into the top 20. In comparison, Local Cannabis Co. and Head Change have both seen a decline in their rankings over the same period. Meanwhile, CLOVR has shown a similar upward trend as Origin Extracts, albeit with a slight dip in November. Smokey River Cannabis has remained relatively stable, with a slight downward trend. In terms of sales, Origin Extracts has seen a consistent increase, suggesting a growing market share within the category. However, it's worth noting that all the mentioned competitors have higher sales, indicating a more established presence in the market.
In November 2023, the top-performing product from Origin Extracts was 'Strawberry Lemonade Cured Shatter (1g)' with a remarkable 453 units sold. Following closely in second place was 'Black Ice Cured Sugar Wax (1g)', maintaining its position from the previous month, though sales dipped slightly to 388 units. The 'Blue Dream Live Resin Cartridge (1g)' broke into the top three, while 'Driving Miss Dazey Cured Crumble (1g)' and 'Golden Goat Cured Crumble (1g)' took the fourth and fifth places respectively. It's noteworthy that all top five products belong to the Concentrates category, with the exception of the 'Blue Dream Live Resin Cartridge (1g)' which belongs to the Vapor Pens category. This indicates a strong preference for concentrates among Origin Extracts customers in that month.